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Updated March 2025

Best GIC Rates Canada 2025

Guaranteed Investment Certificates (GICs) offer guaranteed returns with no risk to your principal. With rates at multi-decade highs in 2025, GICs are more compelling than ever. Here are Canada's best GIC rates.

Top Picks for 2025

Independently ranked for Canadian residents — rates, fees, features.

1
EQ Bank GICs
Competitive rates, CDIC insured, TFSA/RRSP eligible
Up to 4.50%+

EQ Bank offers GICs across 3-month to 5-year terms with competitive rates above most big banks. CDIC insured separately from savings accounts. Available inside TFSA, RRSP, and unregistered accounts. Easy online application.

2
Oaken Financial GICs
Often Canada's highest GIC rates
Up to 4.75%+

Oaken Financial (division of Home Bank, CDIC member) consistently offers some of Canada's highest GIC rates. Available for terms from 1–5 years. CDIC insured up to $100,000 per category.

3
Tangerine GICs
Online convenience, CDIC insured
Competitive

Tangerine offers GICs with easy online application and CDIC protection. Rates are competitive versus big banks though slightly below EQ/Oaken. Available in TFSA and RRSP accounts.

4
Peoples Bank of Canada GICs
High rates through digital platforms
Competitive

Peoples Bank GICs are available through various digital platforms and brokers. CDIC insured. Often competitive rates especially on shorter terms.

5
TD GICs
In-branch support + CDIC
Below online average

TD Bank offers GICs through branches with personalized advice. Rates are typically below online-only alternatives but TD offers convenience and personal service for complex registrations.

6
RBC GICs
Largest bank GICs
Below online average

RBC offers GICs in all major categories. Rates are competitive with big banks but below digital-first providers like EQ Bank or Oaken. Best for existing RBC customers who want convenience.

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Frequently Asked Questions

What is a GIC in Canada?
A Guaranteed Investment Certificate (GIC) is a secure investment that guarantees your principal (deposit) plus a fixed interest rate for a set term (typically 30 days to 5 years). You choose the term, and your money earns the guaranteed rate. At maturity, you get back your principal plus all interest. GICs are CDIC insured up to $100,000.
Are GICs worth it in 2025?
Yes — with 1-year GIC rates around 4.5%+ from institutions like EQ Bank and Oaken, GICs offer significantly better guaranteed returns than big-bank savings accounts (0.01%). If you don't need the money for 1–3 years, a GIC can be more profitable than a HISA while being equally safe.
What is the difference between a GIC and a savings account?
A HISA (like EQ Bank at 3.00%) lets you access your money anytime. A GIC locks your money for the term in exchange for a guaranteed, often higher rate. GICs trade liquidity for yield — great for funds you don't need immediately like emergency funds top-up or medium-term savings goals.
Can I put GICs in a TFSA or RRSP?
Yes — GICs can be held inside a TFSA or RRSP at most institutions including EQ Bank and Oaken Financial. This means your GIC interest is completely tax-free (TFSA) or tax-deferred (RRSP). A GIC inside a TFSA at 4.5% is an excellent guaranteed return with zero tax impact.